HD Fire Protect secures ₹213.11 crore from IPO anchor buyers
HD Fire Protect allotted 78.64 lakh shares to 25 funds at ₹271 each before its ₹712-crore IPO opens on October 13 and closes October 15.
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what happened
Newsmetry API reported that fire-protection equipment maker HD Fire Protect Ltd raised ₹213.11 crore from anchor investors on Monday. Its IPO is scheduled to accept public bids from October 13 through October 15, with the share-price range set at ₹258–271.
The company assigned 78.64 lakh shares to 25 funds at ₹271 apiece, the top of the indicated range. Participants included Bajaj Life Insurance, Axis Max Life Insurance, Allianz Global Investors Fund and a group of mutual funds. Nine domestic mutual funds received 56.52 lakh shares through 17 schemes, accounting for 71.88% of the anchor placement.
The offering is valued at ₹712 crore and consists solely of an offer for sale of 2.63 crore shares held by promoters Harish Narshi Dharamshi and Kusum Harish Dharamshi. As a result, HD Fire Protect will not receive money from the IPO. At ₹271, the company’s implied value is around ₹4,750 crore. Its shares are due to begin trading on the BSE and NSE on October 21.
why it matters
The offer-for-sale structure directs IPO proceeds to the selling promoters rather than HD Fire Protect. The anchor allocation also sets out the participation of insurers and mutual funds before the public portion begins.
instruments
sources
- HD Fire Protect raises ₹213 cr from anchor investors ahead of IPO — Newsmetry API, 13 October 2026 at 04:10 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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